Electric Pressure Cooker Market Size & Growth Analysis to 2030

The global electric pressure cooker market size was valued at around USD 4 billion in 2022 and expected to grow at a CAGR of over 6% during the forecast period from 2023 to 2030. The increasing demand of convenience and time savings products is a primary factor driving the market growth significantly. Electric pressure cookers drastically reduce cooking times, making them ideal for busy individuals and families. Secondly, their energy efficiency, which conserves resources and aligns with sustainability trends, is a compelling factor. These appliances are versatile, offering multiple cooking functions in one device, reducing clutter and cost. Moreover, their ability to retain more nutrients in food aligns with the growing interest in healthy eating.

Safety features reassure consumers, while smart and programmable options cater to tech-savvy users. The rise in home cooking and experimentation with diverse cuisines drives demand, as does consumers’ growing environmental awareness. Economic factors influence cost-conscious consumers, and effective marketing campaigns play a pivotal role in promoting these appliances. Additionally, urbanization and an aging population seeking simplified cooking methods contribute to market growth. These drivers collectively make electric pressure cookers a sought-after kitchen appliance, catering to a wide range of consumer needs and preferences.

Market Snapshot:

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Market Drivers:

Convenience and Time Savings: Electric pressure cookers have gained popularity due to their ability to significantly reduce cooking times. They utilize sealed cooking chambers that trap steam, raising the boiling point of water. This, in turn, cooks food faster compared to traditional stovetop methods. For busy households and individuals, this convenience and time-saving aspect are highly appealing. It allows people to prepare meals quickly, making electric pressure cookers a valuable addition to the kitchen.

Energy Efficiency: With growing concerns about energy conservation and sustainability, electric pressure cookers have gained favor for their energy-efficient operation. These appliances require less electricity or gas compared to stovetop cooking, as they utilize the trapped steam to cook food. This eco-friendly feature resonates with consumers who are conscious of their energy usage and its environmental impact.

Health and Nutrition: Consumers are increasingly mindful of their health and nutrition. Electric pressure cookers retain more nutrients in food because they require less water and shorter cooking times. As a result, vitamins and minerals are preserved more effectively, aligning with the growing emphasis on healthy eating. People are drawn to electric pressure cookers as a way to prepare nutritious meals for themselves and their families.

Safety Features: Modern electric pressure cookers are equipped with advanced safety features to minimize the risk of accidents. These include pressure release valves, locking mechanisms, and sensors that ensure safe cooking. Safety is a paramount concern for consumers, and the presence of these features provides reassurance, making electric pressure cookers a trusted kitchen appliance.

Smart and Programmable Features: Some electric pressure cookers are designed with smart and programmable capabilities. These appliances can be controlled and monitored remotely through mobile apps. This appeals to tech-savvy consumers who appreciate the convenience of adjusting cooking settings and monitoring progress from their smartphones or tablets.

Cooking Trends: The surge in interest in home cooking and culinary experimentation has driven demand for appliances like electric pressure cookers. These appliances are used to prepare a wide range of dishes, from hearty stews and soups to decadent desserts and even homemade bread. As people explore diverse cuisines and cooking techniques, electric pressure cookers provide the flexibility to try new recipes with ease.

Environmental Awareness: Electric pressure cookers’ reduced water and energy consumption align with consumers’ environmental awareness and desire to minimize their ecological footprint. The eco-friendly aspect of these appliances resonates with those who are conscious of conserving resources and reducing waste.

Economic Factors: Economic conditions, including disposable income levels and consumer spending patterns, can influence the electric pressure cooker market. During economic downturns, consumers may prioritize cost-effective cooking solutions that save both time and money, making electric pressure cookers an attractive choice.

Marketing and Promotion: Effective marketing and promotion strategies by manufacturers and retailers play a crucial role in driving market growth. Promotions, discounts, and advertising campaigns can create awareness and influence consumer purchasing decisions. Well-executed marketing efforts can highlight the benefits and features of electric pressure cookers, increasing their appeal.

Increasing Urbanization: The trend toward urban living often results in people having limited time for cooking elaborate meals. Electric pressure cookers cater to the needs of urban dwellers by speeding up meal preparation, allowing them to enjoy home-cooked dishes without investing excessive time and effort in the kitchen.

Market Insights:

The global electric pressure cooker market is bifurcated into material, capacity, end-user, and geography. On the basis of material, the stainless steel electric pressure cookers segment were estimated as the dominant segment in the market in the benchmark year 2022. This dominance can be attributed to several key factors. Firstly, stainless steel electric pressure cookers are renowned for their durability and longevity. The stainless steel construction is resistant to rust, corrosion, and staining, ensuring a longer lifespan compared to other materials. This makes them suitable for both residential and commercial kitchens, where reliability is crucial. Moreover, their sleek and modern appearance, often with a polished finish, appeals to consumers seeking a professional-looking appliance for their modern kitchens. Additionally, stainless steel is relatively easy to clean and doesn’t retain food odors or stains as readily as some other materials, making maintenance hassle-free. Their versatility in handling a wide range of cooking tasks further solidifies their dominance, as consumers appreciate an appliance that can perform multiple functions.

Stainless Steel Electric Pressure Cookers: Stainless steel electric pressure cookers are known for their durability and longevity. They are constructed primarily of high-quality stainless steel, which is resistant to rust, corrosion, and staining. This material imparts a sleek and modern appearance to the cookers. Stainless steel electric pressure cookers are favored for their robustness and ability to withstand heavy use, making them suitable for both residential and commercial kitchens. They are also easy to clean and maintain, contributing to their popularity among consumers who prioritize long-lasting and reliable kitchen appliances. While they may be a bit heavier and pricier than some other options, the investment in a stainless steel electric pressure cooker is often seen as a wise choice for those looking for a durable and professional-grade kitchen tool.

Aluminum Electric Pressure Cookers: Aluminum electric pressure cookers are typically lightweight and offer good heat conductivity, allowing for efficient and even cooking. They are generally more affordable than stainless steel options, making them appealing to budget-conscious consumers. However, aluminum is more prone to scratching, denting, and staining compared to stainless steel. To mitigate these drawbacks, many aluminum pressure cookers come with a non-stick coating on the interior, which makes them easier to clean and enhances their durability. Aluminum electric pressure cookers are often favored for their cost-effectiveness and ability to quickly heat up, making them a practical choice for those seeking an efficient and economical cooking solution. They are commonly used in home kitchens.

Non-Stick Coated Electric Pressure Cookers: Non-stick coated electric pressure cookers are usually constructed with a combination of materials, with the interior featuring a non-stick coating such as Teflon or ceramic. This coating prevents food from sticking to the cooker’s surface, making it easy to clean and reducing the need for excessive oil or fat when cooking. These cookers are popular among consumers who appreciate the convenience of hassle-free cooking and cleaning. While they offer advantages in terms of food release and maintenance, it’s essential to handle non-stick coated pressure cookers with care to prevent damage to the coating. This type of electric pressure cooker is commonly used in households where ease of use and minimal food residue are priorities.

The electric pressure cooker market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Material:

• Stainless Steel
• Aluminum
• Non-Stick Coated

By Capacity:

• Small
• Medium
• Large

By End-User:

• Residential
• Commercial

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

Geographically, the Asia Pacific dominated the global electric pressure cooker market in the benchmark year 2022 and expected to grow at the same trend over the forecast period. The dominance of the Asia-Pacific region in the market is attributed to a combination of demographic, economic, cultural, and technological factors. Rapid urbanization in countries within the region, coupled with smaller living spaces and busy lifestyles, has fueled the demand for kitchen appliances that offer convenience and time-saving solutions. With a burgeoning middle class and increasing disposable incomes, a large consumer base has emerged, seeking innovative kitchen gadgets. The region’s role as a manufacturing hub, particularly in countries like China, has made electric pressure cookers more accessible and affordable.

Moreover, electric pressure cookers resonate with Asian culinary traditions where pressure cooking is a time-tested method, combining tradition with modern convenience. Technological advancements and the integration of smart features have also played a pivotal role in driving adoption. The region’s strong economic growth, along with a growing focus on health and nutrition, further supports the appeal of electric pressure cookers. Effective marketing strategies and promotions have cemented the Asia-Pacific region’s dominance in the electric pressure cooker market, which is likely to continue evolving in response to consumer preferences and market trends.

Competitive Analysis:

Some of the major market players operating in the global electric pressure cooker market are Instant Brands (formerly Instant Pot), Groupe SEB, Cuisinart, Breville Group, and Fagor Electrodomésticos. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Recent Developments:

• In 2023, Instant Pot introduced the Instant Pot Duo Crisp, a multicooker that combines the features of an electric pressure cooker and an air fryer.
• In 2023, Dash introduced the Dash Mini Pressure Cooker, a small and affordable electric pressure cooker.
• In 2022, Philips introduced the Philips Viva Collection Pressure Cooker, a multicooker with a sleek design and easy-to-use interface.
• In 2022, Crock-Pot introduced the Crock-Pot Express Crock Multi-Cooker, a multicooker with a variety of cooking functions, including pressure cooking, slow cooking, rice cooking, and yogurt making.
• In 2022, Breville introduced the Breville Fast Slow Pro, a multicooker with a variety of cooking functions, including pressure cooking, slow cooking, sous vide cooking, and air frying.

Key Companies:

• Instant Brands (formerly Instant Pot)
• Groupe SEB
• Cuisinart
• Breville Group
• Fagor Electrodomésticos
• Presto
• Philips
• Crock-Pot (a brand of Sunbeam Products, Inc.)
• BLACK+DECKER (a brand of Stanley Black & Decker)
• Gowise USA

Key Questions Answered by Electric Pressure Cooker Market Report

• Global electric pressure cooker market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Electric pressure cooker submarket forecasts from 2023-2030 covering the market by material, capacity, end-user, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level electric pressure cooker markets from 2023-2030
• Competitive Landscape and market positioning of top 10 players operating in the market